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Division of partnership Loopy, Snoozy and Dopey have a partnership Cash A/R 20,000.00 A/P 40,000.00 10,000.00 38,000.00 19,000.00 200,000.00 inventory 80,000.00 Cap L Equipment 100,000.00
Division of partnership
Loopy, Snoozy and Dopey have a partnership Cash A/R 20,000.00 A/P 40,000.00 10,000.00 38,000.00 19,000.00 200,000.00 inventory 80,000.00 Cap L Equipment 100,000.00 Cap S 133,000.00 A/D (40,000.00) Cap D 200,000.00 Sharing ratioLoopy 40%, Snoozy 1096, Dopey 50% Assume the partnership dissolves and non-cash assets are sold for $60,000Step by Step Solution
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